Adani Enterprises Ltd. plans to raise as much as 16,600 crore rupees ($2 billion) through the issuance of equity shares or other securities.

The company’s board approved the fundraising today, Adani Enterprises said in a stock exchange announcement. The company will issue the securities in one or more tranches via qualified institutional placement or other permissible mode.

The fundraising will be subject to necessary approvals, including from shareholders and regulatory bodies. The company didn’t provide the details about the proposed use of funds.

Adani Enterprises, the flagship company of Adani Group, will seek shareholders’ approval at the annual general meeting on 24 June.

Note: $1= 83.1131 Indian rupees

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